Seoul, Feb 16, 2025, IANS

Seoul, Feb 16 (IANS) South Korea's imports of fresh fruits hit a record high last year, data showed on Sunday, amid poor harvests caused by climate change and rising demand. The country's imports of 12 kinds of fresh fruits came to US$1.45 billion in 2024, up 20.1 per cent from a year earlier, according to the data compiled by the Korea Rural Economic Institute (KREI). It marked the largest amount ever, with the previous record set in 2018, when the inbound shipment of fruits came to $1.33 billion, reports Yonhap news agency. The 12 kinds of fruits include bananas, mangoes, pineapples, oranges, cherries and kiwis. The growth in imports came as the country experienced a supply shortage of fruits due to poor harvests amid unfavourable weather conditions, leading to high fruit prices. The government has also reduced tariffs on fruit imports to meet increasing demand and rein in inflation. "Imports of fruits are projected to rise further, as domestic production of fruits will trend downward in the long run given weather conditions and the constant fall in their cultivation area," a KREI official said. In a latest report, the institute expected total imports of fruits, including frozen fruits, to climb 6.8 percent on-year to 817,000 tons this year. Meanwhile, South Korea's import prices rose for the fourth consecutive month in January due mainly to the weak local currency and high global oil prices, central bank data showed. The import price index climbed 2.3 per cent last month from a month earlier, according to the preliminary data from the Bank of Korea (BOK). From a year earlier, the figure advanced 6.6 per cent in January. Import prices of raw materials increased 4.4 per cent on-month in January, and those of intermediate goods gained 1.6 per cent, according to the BOK. Import prices are a major factor that determine the path of the country's overall rate of inflation. Consumer prices, a key gauge of inflation, rose by the largest margin in six months of 2.2 per cent on-year in January, government data showed.